Generac Holdings president sells $836,379 in stock

Published 02/12/2024, 22:28
Generac Holdings president sells $836,379 in stock

Erik Wilde, President of Domestic C&I at Generac Holdings Inc. (NYSE:GNRC), recently sold 4,332 shares of the company's common stock. The transaction, which took place on November 27, 2024, was executed at a price of $193.07 per share, amounting to a total sale value of $836,379. Following this transaction, Wilde holds 13,565 shares of Generac Holdings. This sale was disclosed in a Form 4 filing with the Securities and Exchange Commission. According to InvestingPro, 16 analysts have recently revised their earnings expectations upward, suggesting strong business momentum. InvestingPro analysis indicates the stock is currently trading near its Fair Value, with additional insights available in the comprehensive Pro Research Report.

In other recent news, Generac Holdings has been making notable strides in its financial performance. The company reported a significant increase in sales for the third quarter of 2024, with net sales reaching $1.17 billion, a 10% rise from the previous year. This growth was primarily driven by a surge in power outage activity following Hurricanes Helen and Milton, leading to a 28% jump in residential product sales. Despite a decline in global commercial and industrial product sales and international sales, Generac has revised its 2024 outlook upwards, projecting substantial growth in residential sales and improved gross and adjusted EBITDA margins.

In addition to this, Generac has received a $50 million grant from the Department of Energy to implement microgrid solutions in California. Analysts from TD Cowen have maintained a positive stance on Generac, raising the company's price target from $172.00 to $183.00 while retaining a Buy rating. This adjustment reflects the company's robust financial quarter, propelled by heightened demand due to adverse weather conditions. The raised guidance for the fiscal year 2024 suggests confidence in Generac's operational performance and future prospects.

These are the recent developments that have been influencing the company's performance. The company's sustained momentum, strategic positioning, and potential for expansion in emerging markets that are beginning to show positive trends for the business, have all been noted by analysts. However, it's important to remember that these are analyst prognostications and not a guarantee of future performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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